Advising Connection Capital on MBO of Winder Power Holdings

We have successfully advised Connection Capital and its investor clients on the management buyout of Leeds-based Winder Power Holdings.

Connection Capital’s investment will be used to support the MBO and provide working capital to help Winder Power Holdings meet the growing demand for power transformers driven by the decarbonisation of the energy sector with the phasing out of fossil fuels and scaling up of renewable energy.

The MBO has been led by an experienced management team comprising current CEO Paul Matthews, alongside Financial Director Andy Mill, Site Services Director Andrew Pinkey, and Operations Director Mark Henson.

Established in 1899, Winder Power (Winder) designs, manufactures, deploys and manages distribution transformers and power transformers for the utilities, renewable energy, and industrial sectors, both in the UK and internationally.

The company currently employs 120 staff at its 80,000 sq. ft plant in Pudsey near Leeds. Its clients are both network operators and private industrial clients, including SSE plc, Northern Ireland Electricity, Electricity North West, Scottish Power, GE Energy, Drax Power, Ineos Chemicals and Air Products.

The cross-office collaboration of our team was led by head of corporate for Gateley Legal in Nottingham Victoria Elliott, alongside Claire Stretton, Sophie Cahalin and Daniel Statham (corporate), Karem Al-Dahleh, Ginny Tan, Chris Jones and Kerry Gibbons (banking), John Gumery (tax), Helen Webster (employment) and Colin Gittus (property).

We have acted for Connection Capital since 2009.